Economy

How to get Nigeria out of recession – expert

A former Director, Regional Office for Africa, UN-Habitat, Professor Oyebanji Oyelaran-Oyeyinka, has urged the Federal Government to concentrate on industrial manufacturing and not agriculture to move faster towards economic growth and exit recession.

Lagos closes N85.14bn Series 2 Bond Issuance programme

Lagos State Government on Monday announced the closure of the N85, 140,000,000 Series 2 Bond Issuance geared towards improving the physical and social infrastructure in the State.

Economic recession test for Buhari’s administration – George

National President, Union of Nigeria Baptist Convention, Dr. Baware George, has said the ongoing economic recession is a veritable avenue for the Buhari administration to prove its worth.

Recession may have ended in June – NBS chief

Yemi Kale, statistician general of the federation, says there is a likelihood that Nigeria’s economic recession ended in the second quarter of 2017.

We have succeeded in nursing Nigeria’s sick economy – Lai

Lai Mohammed, minister of information, says the Buhari administration has succeeded in nursing Nigeria’s “very sick economy”.

Tax incentives alone will not attract investors – Expert

Mr Taiwo Oyedele, a tax expert, says only tax incentives to industries without addressing other challenges will not bring about the desired economic growth in Nigeria.

Informal economy not enough to handle Africa’s workforce explosion – IMF

Unemployment in Nigeria, sub-Saharan Africa’s largest economy, is running at more than 14 percent and climbing; in South Africa, the second largest economy, it is over 27 percent. For youth in both places, it is far more.

Kebbi govt generates N6.4bn IGR in 2 years

The Kebbi Government, on Wednesday said it would review its tax policy to raise its internal revenue collection from the “meager” N6.4 billion it generated in the last two years.

South Africa no-confidence vote outcome means status quo for rating – S&P Global

South African President Jacob Zuma’s survival in a parliamentary no-confidence vote will not impact the country’s downgrade-threatened credit rating, the S&P Global agency said on Wednesday.

2017 budget not enough for economic devt – Osinbajo

Acting President Yemi Osinbajo has said that the N7 trillion federal budget for 2017 is not sufficient to facilitate the desired economic development in the country, hence the government was making the investment climate profitable and easy for private sector involvement.

Nigeria’s creditworthiness improved with stronger economic outlook – UBS

UBS Wealth Management’s Chief Investment Office (CIO) has launched a new report on Africa’s sovereign credit prospects, an important benchmark used to evaluate the risk of investing in a country.

Grant tax relief to industries operating in Nigeria – Broker begs fed govt

Chief Angus Uzoamaka, an Abuja-based insurance broker, has urged the Federal Government to consider tax relief for industries operating in Nigeria in order to boost economic development.

Fast-track manufacturing sector growth – expert tells govt

A financial expert, Prof. Sheriffdeen Tella, has urged the Federal Government to fast-track the growth of the manufacturing sector through the provision of infrastructure and the provision of credit.

Fed govt targets 500,000mt cocoa production by 2021

As part of its diversification agenda, the Federal Government has set plans in motion to boost the nation’s cocoa production capacity to about 500,000 metric tonnes by 2021.

US economy adds 209,000 jobs in one month

Those hoping that the US dollar would be thrown a lifeline may be in luck, following the news that the United States added another 209,000 jobs to its economy in July.

We will tax first class and business class air tickets – Adeosun

Kemi Adeosun, Minister of Finance, says the Federal Government has signed a policy to tax first class and business class air tickets alongside other luxury goods.

We are already moving out of economic recession – Udoma

The Minister of Budget and National Planning, Senator Udo Udoma, on Thursday said that the country is already moving out of economic recession.

Threats to Nigeria’s economic recovery high – IMF

The International Monetary Fund has predicted that the Nigerian economy will be out of recession this year with growth of 0.8 per cent though it says risks to the recovery remain high.

Recent Stories

Air Peace to operate direct flights to India

There are indications that Nigeria’s biggest airline, Air Peace, may begin direct flights to India from Lagos.
Callum Hudson-Odoi

Chelsea say Callum Hudson-Odoi was racially abused during Dynamo Kiev game

Chelsea say one of their players was racially abused by Dynamo Kiev supporters during their Europa League game in Ukraine.
Lagos State University - LASU

LASU: No plans to increase tuition

The Lagos State University (LASU) on Monday said there was no iota of truth in the rumour being circulated that it planned to increase its tuition soon.
The National Working Committee (NWC) of the All Progressives Congress (APC) rose from several hours of meeting approving the appointment of Yekini Nabena as acting National Publicity of the party.

Bauchi elections: PDP can’t claim victory in governorship polls

A chieftain of the All Progressives Congress (APC), Yekini Nabena, has asked the opposition Peoples Democratic Party (PDP) to forget the dream of taking over the governorship seat of Bauchi state, saying the Independent National Electoral Commission (INEC) has question to answer.
Staff of the Independent National Electoral Commission (INEC) confirm ballot papers for house of representatives during the electoral preparation at a local office of INEC in Port Harcourt, southern Nigeria, on February 22, 2019, a day before postponed voting day.Yasuyoshi CHIBA / AFP

Bauchi elections: Concerned Tafawa-Balewa indigenes reject INEC’s plan to announce results

Barely 24 hours to the resumption of collation of gubernatorial election results from Tafawa-Balewa LGA earlier declared inconclusive, a group, Concern Citizens of Tafawa-Balewa, has opposed INEC’s plan to announce the election results from the area.